Our July Placement of the Month was a troublesome renewal involving a design and construction risk. The insurer dropped from 100% of a £5m AOC limit, paying £27,500, to a 50% line of a £5m AGG limit, whilst increasing the excess by 3x and premium up to £90,000. This increase was partially due to the general market conditions in which all fridge appetite areas are seeing increases, combined with highrise (40 stories +) cladding work and cladding work on hospitals. Unfortunately, these factors meant that this risk was very far outside many insurers’ appetites.

Due to the nature of the company, a cladding contractor with some larger TCVs, very few markets wanted to pick up the other 50% line. However, through Brunels Lloyd’s of London placement team, we managed to secure a market who would follow the other 50%. The excess layer also increased so the client’s total spend increased by £100k but managed to get there after a few short extensions. An incredible result and a perfect example of our team’s expertise, dedication and market relationships.